#TrumpTaxCuts President Trump proposed a new income tax cut on Sunday as a way to mitigate the impact of his broad tariffs, which polls show that Americans increasingly believe will lead to higher prices.

"When the tariffs take effect, the income taxes of many people will be substantially reduced, perhaps even eliminated altogether," Trump wrote in a post on his Truth Social platform on Sunday.

"The focus will be on individuals earning less than $200,000 a year," he continued.

Trump defended the strategy behind his high tariffs in his post, maintaining that "huge amounts of jobs are being created, with new plants and factories currently being built or planned. IT WILL BE A BONANZA FOR AMERICA!!! THE EXTERNAL REVENUE SERVICE IS HAPPENING!!!"